White Gold (CVE:WGO) Shares Down 5.5% - Here's Why

Key Points

• White Gold Corp. (CVE:WGO) experienced a stock price decline of 5.5%, trading at C$0.47, with an increase in trading volume to 610,115 shares.
• Insider Agnico Eagle Mines Limited acquired 3,000,000 shares at C$0.29 each, while another insider purchased 2,000,000 shares, indicating a strong insider confidence in the company.
• The company focuses on the acquisition and exploration of mineral properties in Canada, with its flagship project being the Golden Saddle and Arc deposits in Yukon.

White Gold Corp. (CVE:WGO - Get Free Report) was down 5.5% during trading on Thursday . The company traded as low as C$0.47 and last traded at C$0.47. Approximately 610,115 shares traded hands during mid-day trading, an increase of 37% from the average daily volume of 444,053 shares. The stock had previously closed at C$0.50.

White Gold Stock Down 6.2%

The stock's 50-day moving average price is C$0.35 and its 200 day moving average price is C$0.28. The firm has a market capitalization of C$92.02 million, a price-to-earnings ratio of -51.81 and a beta of 1.54.

Insider Transactions at White Gold

In other news, insider Agnico Eagle Mines Limited acquired 3,000,000 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was purchased at an average cost of C$0.29 per share, for a total transaction of C$870,000.00. Also, insider Pasquale Dicapo acquired 2,000,000 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The shares were purchased at an average price of C$0.29 per share, with a total value of C$580,000.00. 51.30% of the stock is owned by corporate insiders.

White Gold Company Profile

White Gold Corp. engages in the acquisition, exploration, and development of mineral properties in Canada. The company primarily explores for gold, copper, molybdenum, and silver deposits. Its flagship project is the Golden Saddle and Arc deposits in the White Gold property located in Dawson City, Yukon.